Sumitomo Mitsui Trust Group Inc. Lowers Stake in Baker Hughes (NASDAQ:BKR)

Sumitomo Mitsui Trust Group Inc. reduced its position in Baker Hughes (NASDAQ:BKR - Free Report) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,881,441 shares of the company's stock after selling 54,547 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.29% of Baker Hughes worth $118,197,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BKR. Geode Capital Management LLC boosted its stake in shares of Baker Hughes by 0.5% during the third quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company's stock valued at $867,514,000 after purchasing an additional 123,172 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Baker Hughes by 34.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company's stock valued at $394,775,000 after purchasing an additional 2,811,940 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Baker Hughes by 1.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,633,006 shares of the company's stock valued at $348,233,000 after purchasing an additional 145,537 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Baker Hughes by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,951,703 shares of the company's stock valued at $251,304,000 after purchasing an additional 22,383 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Baker Hughes by 11.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,495,752 shares of the company's stock valued at $198,671,000 after purchasing an additional 572,943 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Maria C. Borras sold 8,000 shares of the firm's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the sale, the executive vice president now directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. This trade represents a 4.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

BKR has been the subject of several recent analyst reports. Susquehanna raised their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the company a "positive" rating in a research note on Monday, February 3rd. Bank of America raised their target price on shares of Baker Hughes from $42.00 to $48.00 and gave the company a "buy" rating in a research note on Wednesday, December 18th. TD Cowen lowered their target price on shares of Baker Hughes from $53.00 to $51.00 and set a "buy" rating for the company in a research note on Wednesday, January 8th. Benchmark restated a "buy" rating and issued a $57.00 target price on shares of Baker Hughes in a research note on Tuesday. Finally, The Goldman Sachs Group raised their target price on shares of Baker Hughes from $51.00 to $52.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, Baker Hughes currently has a consensus rating of "Moderate Buy" and an average price target of $51.06.

Baker Hughes Trading Down 1.5 %

Shares of Baker Hughes stock traded down $0.70 on Wednesday, reaching $46.41. The company had a trading volume of 6,680,791 shares, compared to its average volume of 7,974,214. The firm's 50 day moving average price is $43.56 and its two-hundred day moving average price is $39.68. The firm has a market cap of $45.92 billion, a PE ratio of 15.57, a PEG ratio of 2.07 and a beta of 1.39. Baker Hughes has a 52-week low of $28.63 and a 52-week high of $49.40. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. Sell-side analysts predict that Baker Hughes will post 2.57 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th will be issued a dividend of $0.23 per share. The ex-dividend date is Tuesday, February 11th. This is a positive change from Baker Hughes's previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a yield of 1.98%. Baker Hughes's dividend payout ratio is 28.19%.

Baker Hughes Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.